The stock market continues to suffer from a perfect storm of setbacks, as reports come in of Asian stocks losing value on Wednesday.
In the wake of Wall Street pulling back last night due to disappointing earnings, Asian shares by and large fell today. Japanâ??s Nikkei managed to reverse earlier losses and close up 0.15 percent, but South Koreaâ??s KOSPI dropped 1.25 percent, Chinaâ??s Shanghai Composite index lost 0.5 percent, Hong Kongâ??s Hang Seng lost 0.8 percent, and Australia fell 1.5 percent. Europeâ??s markets are in a similar predicament, with Britainâ??s FTSE 100 and Franceâ??s CAC 40 expected to open down by 0.4 percent and Germanyâ??s DAX down by 0.2 percent.
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